Net Exercise. A “Net-Exercise” means the delivery of a properly executed Exercise Notice electing a procedure pursuant to which (1) the Company will reduce the number of shares otherwise issuable to the Participant upon the exercise of the Option by the largest whole number of shares having a Fair Market Value that does not exceed the aggregate Exercise Price for the shares with respect to which the Option is exercised, and (2) the Participant shall pay to the Company in cash the remaining balance of such aggregate Exercise Price not satisfied by such reduction in the number of whole shares to be issued. Following a Net-Exercise, the number of shares remaining subject to the Option, if any, shall be reduced by the sum of (1) the net number of shares issued to the Participant upon such exercise, and (2) the number of shares deducted by the Company for payment of the aggregate Exercise Price.
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Samples: Option Agreement (Qt Imaging Holdings, Inc.), Option Agreement (AEye, Inc.), Stock Option Agreement (AEye, Inc.)
Net Exercise. A “Net-Exercise” means the delivery of a properly executed Exercise Notice electing a procedure pursuant to which (1) the Company will reduce the number of shares Shares otherwise issuable to the Participant upon the exercise of the Option by the largest whole number of shares Shares having a Fair Market Value that does not exceed the aggregate Exercise Price for the shares Shares with respect to which the Option is exercised, and (2) the Participant shall pay to the Company in cash the remaining balance of such aggregate Exercise Price not satisfied by such reduction in the number of whole shares Shares to be issued. Following a Net-Exercise, the number of shares Shares remaining subject to the Option, if any, shall be reduced by the sum of (1) the net number of shares Shares issued to the Participant upon such exercise, and (2) the number of shares Shares deducted by the Company for payment of the aggregate Exercise Price.
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Samples: Option Agreement (Everi Holdings Inc.), Share Option Agreement (Isola Group Ltd.), Share Option Agreement (Isola Group Ltd.)
Net Exercise. A “Net-Exercise” means the delivery of a properly executed Exercise Notice electing a procedure pursuant to which (1) the Company will reduce the number of shares otherwise issuable to the Participant upon the exercise of the Option by the largest whole number of shares having a Fair Market Value on the date of exercise that does not exceed the aggregate Exercise Price for the shares with respect to which the Option is exercised, and (2) the Participant shall pay to the Company in cash the remaining balance of such aggregate Exercise Price not satisfied by such reduction in the number of whole shares to be issued. Following a Net-Exercise, the number of shares remaining subject to the Option, if any, shall be reduced by the sum of (1) the net number of shares issued to the Participant upon such exercise, and (2) the number of shares deducted by the Company for payment of the aggregate Exercise Price.
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Samples: Stock Option Agreement (LDR Holding Corp), Stock Option Agreement (LDR Holding Corp)
Net Exercise. A “Net-Exercise” means the delivery of a properly executed Exercise Notice electing a procedure pursuant to which (1) the Company will reduce the number of shares Units otherwise issuable to the Participant upon the exercise of the Option by the largest whole number of shares Units having a Fair Market Value that does not exceed the aggregate Exercise Price for the shares Units with respect to which the Option is exercised, and (2) the Participant shall pay to the Company in cash the remaining balance of such aggregate Exercise Price not satisfied by such reduction in the number of whole shares Units to be issued. Following a Net-Exercise, the number of shares Units remaining subject to the Option, if any, shall be reduced by the sum of (1) the net number of shares Units issued to the Participant upon such exercise, and (2) the number of shares Units deducted by the Company for payment of the aggregate Exercise Price.
Appears in 2 contracts
Samples: Magnachip Semiconductor LLC, Magnachip Semiconductor LLC
Net Exercise. A “"Net-Exercise” " means the delivery of a properly executed Exercise Notice electing a procedure pursuant to which (1) the Company will reduce the number of shares otherwise issuable to the Participant upon the exercise of the Option by the largest whole number of shares having a Fair Market Value that does not exceed the aggregate Exercise Price for the shares with respect to which the Option is exercised, and (2) the Participant shall pay to the Company in cash the remaining balance of such aggregate Exercise Price not satisfied by such reduction in the number of whole shares to be issued. Following a Net-Exercise, the number of shares remaining subject to the Option, if any, shall be reduced by the sum of (1) the net number of shares issued to the Participant upon such exercise, and (2) the number of shares deducted by the Company for payment of the aggregate Exercise Price.
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Net Exercise. A “Net-Exercise” means the delivery of a properly executed Notice of Exercise Notice electing a procedure pursuant to which (1) the Company will reduce the number of shares otherwise issuable to the Participant upon the exercise of the Option by the largest whole number of shares having a Fair Market Value that does not exceed the aggregate Exercise Price for the shares with respect to which the Option is exercised, and (2) the Participant shall pay to the Company in cash the remaining balance of such aggregate Exercise Price not satisfied by such reduction in the number of whole shares to be issued. Following a Net-Exercise, the number of shares remaining subject to the Option, if any, shall be reduced by the sum of (1) the net number of shares issued to the Participant upon such exercise, and (2) the number of shares deducted by the Company for payment of the aggregate Exercise Price.
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